Royal Bank of Canada Acquires 126,634 Shares of Mobileye Global Inc. $MBLY

Royal Bank of Canada grew its holdings in shares of Mobileye Global Inc. (NASDAQ:MBLY) by 129.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 224,315 shares of the company’s stock after buying an additional 126,634 shares during the quarter. Royal Bank of Canada’s holdings in Mobileye Global were worth $1,541,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Mobileye Global in the 2nd quarter worth about $31,000. IFP Advisors Inc increased its holdings in Mobileye Global by 465.7% during the 3rd quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock worth $26,000 after purchasing an additional 1,495 shares in the last quarter. Rhumbline Advisers purchased a new stake in shares of Mobileye Global in the first quarter worth approximately $27,000. Leonteq Securities AG purchased a new stake in shares of Mobileye Global in the fourth quarter worth approximately $33,000. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Mobileye Global by 8,500.0% in the third quarter. Brown Brothers Harriman & Co. now owns 3,182 shares of the company’s stock valued at $45,000 after purchasing an additional 3,145 shares in the last quarter. Institutional investors and hedge funds own 13.25% of the company’s stock.

Insider Transactions at Mobileye Global

In related news, Director Frank D. Yeary purchased 12,360 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were bought at an average price of $7.98 per share, with a total value of $98,632.80. Following the acquisition, the director owned 12,360 shares of the company’s stock, valued at $98,632.80. This trade represents a ? increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Safroadu Yeboah-Amankwah acquired 11,841 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was purchased at an average price of $8.46 per share, for a total transaction of $100,174.86. Following the purchase, the director owned 84,336 shares of the company’s stock, valued at $713,482.56. The trade was a 16.33% increase in their position. The disclosure for this purchase is available in the SEC filing. 10.00% of the stock is owned by insiders.

Mobileye Global Price Performance

Shares of NASDAQ:MBLY opened at $9.10 on Thursday. The company has a market capitalization of $7.64 billion, a PE ratio of -1.82, a price-to-earnings-growth ratio of 3.03 and a beta of 1.20. Mobileye Global Inc. has a 1 year low of $6.47 and a 1 year high of $15.81. The business has a fifty day moving average price of $8.84 and a two-hundred day moving average price of $8.72.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.13. The company had revenue of $508.00 million for the quarter, compared to the consensus estimate of $480.51 million. Mobileye Global had a negative net margin of 201.49% and a positive return on equity of 0.70%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.08) EPS. Sell-side analysts anticipate that Mobileye Global Inc. will post 0.11 earnings per share for the current year.

Mobileye Global declared that its Board of Directors has approved a share repurchase plan on Thursday, April 23rd that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

MBLY has been the subject of a number of analyst reports. The Goldman Sachs Group increased their price target on Mobileye Global from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Canaccord Genuity Group reduced their target price on shares of Mobileye Global from $17.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, July 24th. TD Cowen lowered their target price on shares of Mobileye Global from $11.50 to $9.00 and set a “buy” rating for the company in a report on Friday, July 24th. Jefferies Financial Group initiated coverage on shares of Mobileye Global in a research report on Monday, May 18th. They set an “underperform” rating and a $8.00 price target on the stock. Finally, BNP Paribas Exane cut their price target on shares of Mobileye Global from $11.50 to $8.50 and set a “neutral” rating on the stock in a report on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $12.65.

Mobileye Global Company Profile

Mobileye Global Inc (NASDAQ: MBLY) is a leader in the development of advanced driver-assistance systems (ADAS) and autonomous driving technologies. Headquartered in Jerusalem, Israel, the company designs and supplies computer vision-based solutions that enable vehicles to detect and respond to road conditions, obstacles and signage. Mobileye’s core offering centers on its proprietary EyeQ system-on-a-chip (SoC) family, which processes video streams from automotive cameras to deliver features such as lane-keeping assist, adaptive cruise control, collision prevention and traffic sign recognition.

Founded in 1999 by Prof.